MagicCube’s i-Accept is a hardware-free option for accepting card and electronic payments that could appeal to cost-conscious small businesses and open up a new market for banks that provide them payments services.
Online fraud typically spikes when holiday shopping begins in November, but so-called friendly fraud poses another big threat this year with the pandemic pushing more consumers — and inexperienced merchants — to online sales channels.
Citigroup is now the third, and largest, U.S. financial institution to offer the Mastercard True Name feature, which lets customers use their preferred name, rather than their legal name, on credit and debit cards. The cards are targeted specifically for transgender and nonbinary people, who often face outsized financial hardship.
In an exclusive interview announcing the regulator's new financial inclusion program, NCUA Chairman Rodney Hood explains why the time was right to double down on the agency's efforts to expand access for marginalized communities.
Gary Cohn, former head of the Trump administration’s National Economic Council and onetime top executive at Goldman Sachs, says technological changes will continue to make it harder for smaller financial institutions to compete and force many to be sold.